VBI Vaccines Awarded Up to CAD$56 Million Contribution from Canadian Government to Accelerate Coronavirus Vaccine Development
Excerpt from the Press Release:
OTTAWA, Ontario & CAMBRIDGE, Mass.–(BUSINESS WIRE)–Variation Biotechnologies Inc., an Ottawa-based wholly-owned Canadian subsidiary of VBI Vaccines Inc. (Nasdaq: VBIV) (VBI), a commercial-stage biopharmaceutical company developing next-generation infectious disease and immuno-oncology vaccines, today announced that it has been awarded up to a CAD$56 million contribution from the Strategic Innovation Fund of the Government of Canada to support the development of the company’s coronavirus program, VBI-2900, through Phase 2 clinical studies.
Coronaviruses are enveloped viruses by nature, which make them prime targets for VBI’s flexible enveloped virus-like particle (eVLP) platform technology. A multivalent eVLP vaccine candidate, co-expressing SARS-CoV-2, SARS-CoV, and MERS-CoV spike proteins, may enable the immune system’s production of broadly reactive antibodies, potentially offering protection from emerging strains of COVID-19 that evolve over time.
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